Gold & Silver Price In Mumbai Today: Is It Cheaper Or Costlier On February 4?

Gold and silver prices in Mumbai traded firm on Wednesday, February 4, 2026, tracking the latest bullion rates released for Maharashtra earlier this morning. The precious metals continued to reflect strong investor interest, with gold holding near elevated levels and silver witnessing notable gains compared to the previous session.

Gold prices remain strong in Mumbai markets

As per the latest update at 9:35 am on Bullions website, 24 karat gold in Mumbai is priced at ₹15,936 per gram, while 22 karat gold-the most preferred purity for jewellery-stands at ₹14,608 per gram. On a larger scale, 10 grams of 24K gold costs ₹1,59,360, and 1 kilogram is priced at ₹1.59 crore in the city's bullion market.

Other gold purities are also trading at firm levels. 20 karat gold is available at ₹13,280 per gram, 18 karat gold at ₹11,952 per gram, while 14 karat and 10 karat gold are priced at ₹9,296 and ₹6,640 per gram respectively. These rates are particularly relevant for buyers opting for lighter or designer jewellery, which often uses lower karatage gold.

In traditional units, one tola of 24 karat gold is priced at ₹1,85,875, while an ounce is trading at ₹4,51,778. Mumbai, known for its historic gold markets such as Zaveri Bazaar, continues to see steady footfall from retail buyers and investors alike. Many jewellery shops in the city are generations old, and buyers are advised to check daily rates before making purchases, as even small fluctuations can significantly impact overall costs.

Gold sees sharp rise over previous session

Gold prices have registered a noticeable jump compared to the previous day. The price of 24 karat gold per 10 grams stood at ₹1,53,540 yesterday, reflecting a 3.79 per cent increase in today's rates. Market experts attribute the rise to a combination of global cues, currency movements, and renewed safe-haven demand amid ongoing economic uncertainties.

Silver prices surge in Mumbai

Silver prices in Mumbai have also moved higher. 999 fine silver is currently priced at ₹282 per gram and ₹2,82,280 per kilogram, while 925 sterling silver is trading at ₹261 per gram, the data said. Silver used for coins and utility purposes, such as 900 coin silver and 800 German silver, is priced at ₹254 and ₹226 per gram respectively.

In retail quantities, 10 grams of 999 fine silver costs ₹2,823, while one tola is priced at ₹3,292. The rise in silver prices has been sharper than gold, reflecting increased industrial demand as well as speculative interest in the bullion markets.

Silver records strong day-on-day gains

Compared to yesterday's rate of ₹2,67,410 per kilogram, 999 silver prices have risen by 5.56 per cent, marking a significant single-day jump. Analysts note that silver tends to witness sharper movements than gold during periods of heightened volatility, and investors are closely monitoring global trends for further direction.

Overall, gold and silver prices in Mumbai remain on a firm footing today, supported by strong domestic demand and global market signals. Buyers and investors are advised to stay updated with daily price movements before taking investment or purchase decisions.